The new age of frugality
The new age of frugality
It is not really a surprise to read in Business Week that a new age of frugality is dawning. Ever-increasing economic uncertainty, rising unemployment and falling investments, are prompting consumers to spend less and spend more wisely.
Business Week points out that thrift has gone in and out of style with the fall and rise of the economic cycle. The biggest and richest generation of all time, the baby boomers have grown up in an age of abundance. They have been given easy credit and have developed a taste for luxury. The current need for thrift has come as a sudden and unpalatable shock for many.
Thursday, 16 October 2008 08:28